Journalize the following transactions:
A magazine sells a 12-month magazine subscription for $60 per year. The company has collected cash for 1,200 subscriptions. Record the journal entries for:
Receipt of cash for the subscriptions (Feb 13).
Amount of revenue earned after mailing out 7 months of magazines (Sept 13).

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The Answer of Journalize the following transactions:
A magazine sells a 12-month magazine subscription for $60 per year. The company has collected cash for 1,200 subscriptions. Record the journal entries for:
Receipt of cash for the subscriptions (Feb 13).
Amount of revenue earned after mailing out 7 months of magazines (Sept 13).

Journalize the Following Transactions